Posts tagged "Estate Administration & Probate"

On behalf of Newman Law Group posted in Estate Tax on Monday, February 23, 2015.

Readers have likely heard about the spousal deduction, whereby a spouse can leave an unlimited amount of assets to a surviving spouse without triggering estate tax liabilities. However, does that mean that first spouse's federal estate tax exemption is gone?

Although readers may understand that life insurance proceeds generally count toward an estate’s valuation, they may not realize the privacy implications. To protect an estate’s privacy, an attorney that focuses on estate planning might recommend naming a trust as the beneficiary of a life insurance policy, instead of specific loved ones. Otherwise, if a life insurance claim dispute breaks out among potential beneficiaries, the context could become very public.

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